Why Crypto Funds Transfer is better than MoneyGram/Western Union.

[Etini]

When it came to money transfers across borders, there have been traditional and institutionalised platforms that have held sway for decades. These are MoneyGram and Western Union. Up until late last year before I got to know about the possibility of transferring funds through Cryptocurrency, I have been patronising these two traditional platforms to send and receive money to and from my relatives abroad. Once I found the possibility of transferring funds through Cryptocurrency, I have surely not looked back. In this post, I am going to highlight the advantages of crypto over these traditional money transfers.

First of all, transfers through Cryptocurrency are way cheaper than MoneyGram and Western Union. All the cuts from banks are eliminated with cryptocurrency money transfers. When someone is in need of funds urgently and you have to wire the money for the person to use, one would appreciate the speed sending money through Cryptocurrency offers. It is almost instant. Some of these traditional money transfer options take days to complete a transaction.

Cryptocurrency offers the option of being anonymous. Traditional money transfers take your personal information which might leave a trail for hackers. The security with Cryptocurrency transfers are top notch as transactions are protected with cryptography.

All in all, it is better to send and receive funds through Cryptocurrency as compared to traditional money transfer platforms like MoneyGram and Western Union.